The Dow Jones index closed higher by around 0.1% on Thursday. When insiders purchase or sell shares, it indicates their confidence or concern around the company's prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.

Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga's insider transactions platform.

Agrify

• The Trade: Agrify Corporation (NASDAQ:AGFY) Chairman and CEO Raymond Nobu Chang acquired a total of 1,842,104 shares an average price of $0.38. To acquire these shares, it cost around $699,999.
• What's Happening: On Feb. 29, Agrify announced a $3.4 million sales order from HarvestWorks Farm.
• What Agrify Does: Agrify Corp provides hardware and software grow solutions for the indoor agriculture marketplace and provides equipment and solutions for cultivation, extraction, post-processing, and testing for the cannabis and hemp industry.

CommScope Holding

• The Trade: CommScope Holding Company, Inc. (NASDAQ:COMM) EVP and CFO Kyle David Lorentzen acquired a total of 11,600 shares at at an average price of $1.25. To acquire these shares, it cost around $ $14,500.
• What's Happening: On March 13, B of A Securities analyst Tal Liani maintained CommScope Hldg with an Underperform and lowered the price target from $2 to $1.
• What CommScope Holding Does: CommScope Holding Co Inc is a provider of infrastructure solutions for communication, data center and entertainment networks.

Rezolute

• The Trade: Rezolute, Inc. (NASDAQ:RZLT) Chief Medical Officer Brian Kenneth Roberts acquired a total of 500 shares at an average price of $2.55. The insider spent around $1,275 to buy those shares.
• What's Happening: On Feb. 13, Rezolute posted a narrower-than-expected quarterly loss.
• What Rezolute Does: Rezolute Inc is a biopharmaceutical company. The company develops novel, sustained-release injectable therapies.

Don't forget to check out our premarket coverage here